Grain markets affected by COVID-19


Concerns over the covid-19 virus continue to affect grain markets.

Canola futures are down about 10 dollars a ton during the past day or so.

Ken Ball with P.I. Financial in Winnipeg says traders are taking a wait and see approach to the economic crunch from the coronavirus.

Ball doesn’t see the same collapse in grain prices compared to the stock market.

He says stocks were at record highs while grain prices are considered on the low end of the cycle.

Ball says there will be pent-up demand once the concern settles down.

He expects overall grain trade in 2020 to reach earlier projections.

Ball says China may already be back in the market because the U.S. has sold 6 cargoes of soybeans.

Ball says farm business is becoming more active in China but so far it seems to be a slow trickle.

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